Smart Sand Inc (NYSE:SND) – Jefferies Group lowered their FY2020 EPS estimates for shares of Smart Sand in a research note issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst B. Handler now forecasts that the company will post earnings of $2.60 per share for the year, down from their prior estimate of $2.90. Jefferies Group has a “Buy” rating and a $22.00 price objective on the stock.
Smart Sand (NYSE:SND) last issued its earnings results on Thursday, March 16th. The company reported $0.40 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.40. The company had revenue of $29.45 million for the quarter, compared to analysts’ expectations of $29.75 million. The business’s revenue was up 94.1% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share.
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A number of other brokerages also recently commented on SND. Johnson Rice raised shares of Smart Sand from an “accumulate” rating to a “buy” rating and increased their price objective for the company from $20.00 to $21.00 in a research report on Friday, March 17th. Zacks Investment Research raised shares of Smart Sand from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, March 23rd. Simmons increased their price objective on shares of Smart Sand from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, April 11th. Finally, Goldman Sachs Group Inc downgraded shares of Smart Sand from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a research report on Friday, January 20th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.53.
Shares of Smart Sand (NYSE:SND) traded down 2.17% during trading on Thursday, hitting $12.61. 522,967 shares of the stock were exchanged. The stock’s 50 day moving average price is $15.03 and its 200-day moving average price is $15.55. Smart Sand has a one year low of $10.30 and a one year high of $21.99. The company has a market cap of $511.83 million and a price-to-earnings ratio of 30.02.
In other news, CEO Charles Edwin Young sold 1,302,927 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $17.50, for a total value of $22,801,222.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jose Enrique Feliciano sold 2,410,883 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $16.58, for a total transaction of $39,972,440.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,824,163 shares of company stock valued at $64,704,840.
Several hedge funds and other institutional investors have recently modified their holdings of SND. Creative Planning bought a new position in shares of Smart Sand during the first quarter valued at about $211,000. Teachers Advisors LLC bought a new position in shares of Smart Sand during the fourth quarter valued at about $306,000. Norges Bank acquired a new stake in shares of Smart Sand during the fourth quarter worth $2,482,000. Putnam Investments LLC acquired a new stake in shares of Smart Sand during the fourth quarter worth $3,944,000. Finally, Castleark Management LLC acquired a new stake in shares of Smart Sand during the fourth quarter worth $1,923,000.
About Smart Sand
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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